The reason for having to pay higher premium prices is because it's common knowledge that smoking can lead to a number of health risks that can cause death. Therefore if you smoke, you become a higher risk for life insurance companies as you're more likely to make a claim
At LifeDirect, we receive a number of questions about tobacco usage, life insurance for smokers, and how smoking will affect an insurance policy. We had one particularly interesting query from a cigar smoking client who was reluctant to pay "smoker's" premiums. Seeing the massive savings to be had, the client asked us to check if there were any insurers that would consider him to be a non-smoker.
Our team got cracking, and after calling a range of insurers to find out how they would approach the situation, one insurer confirmed that if the cigar smoking were limited to one a day, the client would qualify for non-smokers rates. This was quite significant as it could save the client thousands of dollars over the life of the policy and really shows the importance of a quick comparison when you're picking a life insurer.
Of course, kicking the habit would be the most straightforward way to lower your life insurance rates, but at LifeDirect, we're here to help.
Head on over to LifeDirect to compare life insurance quotes from NZ's leading insurers. Alternatively, you can fill out a contact form online or give us a call on 0800 800 400 to chat with our Wellington based team.
Disclaimer: Please note that the content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current development or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.